Talia's Tutus bought a new sewing machine for $70,000 that will be depreciated over 5 years using

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Talia's Tutus bought a new sewing machine for $70,000 that will be depreciated over 5 years using double-declining-balance depreciation with a switch to straight-line.

Required:

a.Find the depreciation charge each year for years 0 -5.

b.If the sewing machine is sold after 2 years for $44,000, what will be the after-tax proceeds on the sale if the firm's tax bracket is 35%?

Posted Date: May 19, 2024 02:16 AM

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Talia's Tutus bought a new sewing machine for $70,000 that will be depreciated over 5 years using

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